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AAP
AAP
National
Luke Costin

Concern over compo delay for AMP clients

Amp Michael Lee Insurance Federal Court
A judge is concerned at delays in AMP compensating people placed on unsuitable insurance policies. (Joel Carrett/AAP PHOTOS) (AAP)

A judge is concerned those harmed by AMP's unlawful life insurance conduct are still out of pocket two years after he ordered compensation.

The wealth management giant was fined $5.2 million in March 2020 and agreed to compensate customers for a financial planner's unlawful practice of "churning" clients.

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